DayDayCook, a content driven direct-to-consumer brand in Hong Kong and Mainland China, has entered into a definitive merger agreement with Ace Global Business Acquisition. If approved, upon closing the parties plan to remain Nasdaq-listed under a new ticker symbol.
Ace said it aims to complete a PIPE of approximately $30 million to $40 million. The combined company would have a pro forma firm value of approximately $377 million to $387 million, assuming no shareholder redemptions. DDC will receive $46.9 million in cash from Ace’s trust. Read more.
